CHAPTER 58.

Insurance.

(a) The moneys received by the Association pursuant to G.S. §58-48-105(a)
shall be distributed as follows:

(1) An amount equivalent to one and one-half times the contingent liabilities of the
Stock Workers' Compensation Security Fund created pursuant to former G.S. §97-107
existing on December 31, 1992, shall be deposited in a separate reserve account to be
maintained by the Association which shall be designated as the "Stock Reserve
Account." The amount of the Fund's contingent liabilities and the amount to be
deposited in this Stock Reserve Account shall be determined and approved by the
Department.

(2) The balance of the moneys received from the Stock Workers' Compensation Security
Fund created pursuant to former G.S. §97-107 shall
be refunded by the Association to member insurers that were contributing stock carriers
during calendar year 1989 in accordance with the determination of the Department under
this subdivision. The amount to be refunded to each stock carrier shall be in proportion
to the contributions paid in by each stock carrier. The Department shall, as nearly as
practicable, determine this amount under generally accepted accounting principles and the
determination of the Department shall be final and not subject to appeal.

(3) Should the balance of the moneys in the Stock Reserve Account be reduced to less
than one and one-half times the contingent liabilities of the account, the Association
shall assess all member insurers that are stock carriers writing workers' compensation in
this State at the time of the assessment in an amount equivalent to one and one-half times
the contingent liabilities of said account. The assessment under this subdivision shall be
made in accordance with the provisions of G.S. §58-48-35(a)(3). (1991 (Reg. Sess., 1992),
c. 802, s. 8.)